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Oct 12, 2012
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if your ticket is elected, who will pay more in taxes? who will pay less in taxes? >> middle-class will pay less and people making a million dollars or more will begin to contribute slightly more. the continuation of the bush tax cuts, we are arguing the bush tax cuts for the wealthy should be allowed to expire. $800 billion of that goes to people making a million dollars. we see no justification for those -- they are patriotic americans, they are not suggesting the tax cut. 120,000 families will get an additional $500 billion in tax relief in the next 10 years. their income is an average of $8 million. we want to extend the middle class tax cuts permanently. these guys will not allow us to. we say, let's have a vote. they are holding hostage the middle class tax cut to the super wealthy. all the studies point out will get another $250,000 a year to those 120,000 families and raise taxes for families who are middle income with a child by to $2000 a year. this is unconscionable. there is no need for this. the middle class got knocked on their heels. the great recessi
if your ticket is elected, who will pay more in taxes? who will pay less in taxes? >> middle-class will pay less and people making a million dollars or more will begin to contribute slightly more. the continuation of the bush tax cuts, we are arguing the bush tax cuts for the wealthy should be allowed to expire. $800 billion of that goes to people making a million dollars. we see no justification for those -- they are patriotic americans, they are not suggesting the tax cut. 120,000...
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Oct 10, 2012
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what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut? when he is asked how he will cut the deficit, he says economic the mathematics work by eliminating public funding for pbs. this is not new. this is what he has been saying every time he is asked a question. he says we can cut out pbs. for all you moms and kids, don't worry, somebody finally has found out the big bird. who knew he was driving our deficit? elmo is making a run for the border and oscar is hiding in a trash can. governor romney will let wall street run rampant but he will bring down the hammer on sesame street. that is not leadership. that is salesmanship. we cannot afford it,. we cannot afford to double down on top down economics. we cannot afford another round of tax cuts for the well. we cannot afford to roll back regulations on wall street banks or insurance company. we cannot afford to cut our investments in education or clean energy or research or technology. that's not a jobs plan. does not plan to grow the economy. that is not change. that is a relapse. we have be
what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut? when he is asked how he will cut the deficit, he says economic the mathematics work by eliminating public funding for pbs. this is not new. this is what he has been saying every time he is asked a question. he says we can cut out pbs. for all you moms and kids, don't worry, somebody finally has found out the big bird. who knew he was driving our deficit? elmo is making a run for the border and oscar is hiding in a...
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Oct 10, 2012
10/12
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history shows when you raise taxes on the 1% of people that pays 42% of the taxes, you will collect less money. the big fundamental issue is, what are we doing on the constructive part of the economy? we have to address them. >> ok. >> george bush entered into a deal that was supposed to be balanced. the trade-off was reduce spending. the higher taxes were immediate. the reining in spending was to come later. we are still waiting. the negotiations are very complex. there are a lot of pieces to it. everything is going to end-of being on the table. there is no question that you need to curb long temp entitlement costs. it is the number one spending program in the government. that will need to be looked at and a whole bunch of other things are complex. you cannot do one without looking at everything. >> very briefly i want to ask the things you think need to be done to restore business competitiveness over the course of the next four years of whoever wins the presidential election on november 6. >> i am 100% certain they can all be done. will they? i think there will be enormous pressure fo
history shows when you raise taxes on the 1% of people that pays 42% of the taxes, you will collect less money. the big fundamental issue is, what are we doing on the constructive part of the economy? we have to address them. >> ok. >> george bush entered into a deal that was supposed to be balanced. the trade-off was reduce spending. the higher taxes were immediate. the reining in spending was to come later. we are still waiting. the negotiations are very complex. there are a lot...
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Oct 11, 2012
10/12
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the bush era tax cuts do not do enough. we need to abolish tax cuts -- taxes entirely. barack obama said he did not want to raise taxes on the middle class because the middle class buys cars. so did the rich. the rich spend money, too. the rich are part of the crowd that invest money to create jobs. that is what we need to be doing in america -- cutting everybody's taxes as far as possible. >> we got you. congressman, would you ok $3 in spending cuts for every $1 and revenue? >> you will never get that bargain. i believe there are some republicans who say you go -- if you lower the top tax rate, that you cannot produce any new revenue for government. i do not believe that. i say if we generate new revenue, then pay down the debt faster, by down the rate further. so i am not one who says he cannot generate any new revenue. there was a question a while ago about and ethanol subsidy that i have been trying to get rid of for years. we finally did. that is about $6 billion. some republicans said if you get rid of that -- it's price revenue neutral. get rid of a bad subsidy.
the bush era tax cuts do not do enough. we need to abolish tax cuts -- taxes entirely. barack obama said he did not want to raise taxes on the middle class because the middle class buys cars. so did the rich. the rich spend money, too. the rich are part of the crowd that invest money to create jobs. that is what we need to be doing in america -- cutting everybody's taxes as far as possible. >> we got you. congressman, would you ok $3 in spending cuts for every $1 and revenue? >> you...
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Oct 10, 2012
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according to the tax policy center, last year the bush tax cuts increased after -- after tax incomes for people making over $1 million by an average of 6.2%. that's about $129 a household but for those with incomes between $40,000 and $50,000 the increase was 2.2%. over time, our tax code has wydened the nation's wealth gap. reversing this trend ought to be a top goal of tax reform. at a minimum we certainly should not make the tax code any less progressive than it would be if the high income tax cuts expired. but in 1986 approach -- sorry, in 1986 style approach that promises upfront rate cuts to the wealthy is almost guaranteed to give middle income earners the short end of the stick. the reason is in order to raise enough money to both reduce rates and cut the deficit you would need to slash deductions and credits on a far greater scale than we did in 1986. middle income earners would not be spared. and because middle income earners so rely on these expenditures, the cost of losing them would likely exceed the benefit they received from a lower great. multiple experts verified tha
according to the tax policy center, last year the bush tax cuts increased after -- after tax incomes for people making over $1 million by an average of 6.2%. that's about $129 a household but for those with incomes between $40,000 and $50,000 the increase was 2.2%. over time, our tax code has wydened the nation's wealth gap. reversing this trend ought to be a top goal of tax reform. at a minimum we certainly should not make the tax code any less progressive than it would be if the high income...
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Oct 12, 2012
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tax cut unless you give the tax cut for the super wealthy. it is about time they take some responsibility. >> joe and i are from similar towns. do you know what the unemployment rate in scranton is today? 10%. that is how is going all around america. >> that is not how it is going. it is going down. >> did they inherit a tough situation? absolutely. but we're going in the wrong direction. the economy is barely limping along. job growth in september was slower than it was in august and august was slower than it was in july. we're heading in the wrong direction. 23 million americans are struggling for work. 15% of americans are living in poverty. this is not what a real recovery looks like. we need real reforms for a real recovery. that is exactly what we are proposing. get america energy independent by the end of the decade. get this deficit and debt under control. make trade work for america. champion small businesses, do not raise taxes on small businesses. they are our job creators. he talks about detroit. mitt romney is a car guy. this is
tax cut unless you give the tax cut for the super wealthy. it is about time they take some responsibility. >> joe and i are from similar towns. do you know what the unemployment rate in scranton is today? 10%. that is how is going all around america. >> that is not how it is going. it is going down. >> did they inherit a tough situation? absolutely. but we're going in the wrong direction. the economy is barely limping along. job growth in september was slower than it was in...